Voleon Capital Management LP Has $2.33 Million Holdings in Telephone and Data Systems, Inc. $TDS

Key Points

• Voleon Capital Management LP increased its holdings in Telephone and Data Systems, Inc. by 267.2%, owning $2.33 million worth of shares after purchasing an additional 43,780 shares.
• Several institutional investors have also increased their stakes in Telephone and Data Systems, with 80% of the stock now owned by such investors and hedge funds.
• Analysts have upgraded the stock from "strong sell" to "hold," with a consensus target price of $52.00, while the company reported a quarterly loss of ($0.05) EPS, missing estimates.

Voleon Capital Management LP increased its position in shares of Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 267.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 60,166 shares of the Wireless communications provider's stock after buying an additional 43,780 shares during the period. Voleon Capital Management LP owned 0.05% of Telephone and Data Systems worth $2,331,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in TDS. Ameriprise Financial Inc. increased its holdings in Telephone and Data Systems by 3.8% during the fourth quarter. Ameriprise Financial Inc. now owns 1,257,662 shares of the Wireless communications provider's stock worth $42,899,000 after buying an additional 45,619 shares during the last quarter. Captrust Financial Advisors acquired a new position in Telephone and Data Systems during the fourth quarter worth $208,000. Crestline Management LP acquired a new position in Telephone and Data Systems during the fourth quarter worth $210,000. D. E. Shaw & Co. Inc. increased its holdings in Telephone and Data Systems by 140.9% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 334,981 shares of the Wireless communications provider's stock worth $11,426,000 after buying an additional 195,935 shares during the last quarter. Finally, Hudson Bay Capital Management LP acquired a new position in Telephone and Data Systems during the fourth quarter worth $10,233,000. 80.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Zacks Research upgraded shares of Telephone and Data Systems from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 13th. JPMorgan Chase & Co. upped their price objective on shares of Telephone and Data Systems from $53.00 to $54.00 and gave the company an "overweight" rating in a report on Tuesday, August 12th. Raymond James Financial upped their price objective on shares of Telephone and Data Systems from $49.00 to $50.00 and gave the company an "outperform" rating in a report on Tuesday, August 12th. Finally, Wall Street Zen upgraded shares of Telephone and Data Systems from a "sell" rating to a "hold" rating in a report on Sunday, August 17th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $52.00.

Insider Buying and Selling at Telephone and Data Systems

In other news, SVP Joseph R. Hanley sold 68,759 shares of the business's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $38.16, for a total value of $2,623,843.44. Following the completion of the sale, the senior vice president owned 60,473 shares of the company's stock, valued at approximately $2,307,649.68. The trade was a 53.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Anita J. Kroll sold 8,608 shares of the business's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $39.09, for a total transaction of $336,486.72. Following the completion of the sale, the chief accounting officer directly owned 17,087 shares of the company's stock, valued at approximately $667,930.83. The trade was a 33.50% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 276,650 shares of company stock worth $10,690,789. Insiders own 14.97% of the company's stock.

Telephone and Data Systems Price Performance

NYSE:TDS opened at $38.38 on Tuesday. Telephone and Data Systems, Inc. has a one year low of $21.81 and a one year high of $42.74. The company has a market cap of $4.41 billion, a P/E ratio of -39.56 and a beta of 0.48. The firm's fifty day moving average price is $38.55 and its two-hundred day moving average price is $36.45. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.78 and a quick ratio of 1.65.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last announced its earnings results on Monday, August 11th. The Wireless communications provider reported ($0.05) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.04). The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.17 billion. Telephone and Data Systems had a negative net margin of 0.85% and a positive return on equity of 0.92%. The company's revenue was down 5.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.13) EPS. Equities analysts expect that Telephone and Data Systems, Inc. will post -0.31 earnings per share for the current year.

Telephone and Data Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, September 15th. Telephone and Data Systems's payout ratio is presently -16.49%.

Telephone and Data Systems Profile

Telephone and Data Systems, Inc, a telecommunications company, provides communications services in the United States. It operates through two segments: UScellular and TDS Telecom. The company offers wireless solutions to consumers, and business and government customers, including a suite of connected Internet of things (IoT) solutions, and software applications for monitor and control, business automation/operations, communication, fleet and asset management, smart water solutions, private cellular networks and custom, and end-to-end IoT solutions; wireless priority services and quality priority and preemption options; smartphones and other handsets, tablets, wearables, mobile hotspots, fixed wireless home internet, and IoT devices; and accessories, such as cases, screen protectors, chargers, and memory cards, as well as consumer electronics, including audio, home automation and networking products.

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